# ETHWarsaw 2023: Ryan Rodenbaugh, Wallfacer Labs - Vaults.fyi - find vaults, verify yields

- Channel: [ETH Warsaw](https://streameth.org/eth-warsaw)
- Date: 2024-10-07
- Duration: 08:38
- Watch: https://streameth.org/watch/yt-nx8lobU74e0
- YouTube: https://www.youtube.com/watch?v=nx8lobU74e0

## Description

Presentation - a brief talk by Ryan Rodenbaugh from Wallfacer Labs. This presentation introduces to a tool for finding on-chain yields: Vaults.fyi.

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## Transcript

my name is Ryan renah and I am the co-founder and CEO of wallfacer labs wallfacer labs is a crypto research and development company our work mostly takes the form of contributing to Dows and launching interesting products for the crypto markets today I'm very excited to be here to introduce you to your new favorite tool for finding onchain yields vaults FYI but before I show off the product maybe let's start with the problem I may I'll ask this to you guys as well how do you go about finding reliable onchain yield opportunities anybody want to venture out okay urine strategies Lama defi Lama okay great two perfect examples so today defi is filled with tons of lucrative onchain opportunities to earn yield but like a Minefield where you don't know if your next step could lead to sudden death defi is also filled with rugs hacks and just good oldfashioned scams using some simple searches today there is at least 8,000 unique yield opportunities across nearly 400 protocols that you could try and earn yield on and for most people that is just too damn much and that's where we come in vaults FYI is a tool to find and verify the best onchain yields or as we like to call sometimes a search engine for onchain yield opportunities bolts is a simple accessible interface for finding the best onchain yield opportunities across a highly curated list of protocols that have met a number of criteria to prove their credibility and I just believe that the very bright light is making the contrast look a little bit brighter than it is but if you look up on your phone it's a little bit clearer to see so why do we start working on this like most useful products vaults came from us wanting to scratch a itch of our own on a few things things metaphorically speaking quickly scanning and verifying the top onon and yield opportunities is legitimately difficult as two concrete examples let's look at two blue chip protocols in crypto Compound on the left and a on the right if you wanted to see all of the yields offered on compound it would require about eight clicks to do that as a user you would have to individually click on their main net usdc market and their main net eth market and their polygon usdc market and you get the point the same is even more true of a where even though they've tried to migrate a lot of their users to V3 they still have many V2 markets that are worth a user's time and so there it would take about 14 clicks and let's not even talk about comparing yields across two different markets where you'd have to switch back between a bunch of different tabs and that's really where vaults comes in vaults at vaults we think about the process of finding yield opportunities through a new interface through the search interface where using our straightforward interface you can type in how much you would like to lend what asset you're considering lending and for what duration of time and then our site will spit out the options that make the best sense based on your criteria so let's go through a real example let's say that you are interested in lending 10,000 usdc for one year once you type that into our site it'll spit out these first two options and if you scroll down you'll see a few more let's say that based on your criteria and what you're interested in you have some money on AR already and you want to lend on arbitrum and you're familiar with compound and that seems like a pretty credible spot at the same time you still want to learn a little bit more how bigs The Vault what percentage is real yield versus rewards as you can see up top there and so you click on more details and from there we break out a bunch of different features you can see the in-depth breakdown between how much of that is real yield so paid by borrowers versus paid in token incentives you can confirm that this is compound V3 the newest safest instance of the protocol and you can see the current tvl of the vault as well with a $10,000 deposit into a $6.4 million Vault you're probably okay but if you were making a larger deposit into that that liquid versus locked piece would be very important to understand as well you don't want to be the last person in there if you need to get your money out in a relatively short period of time so let's cover where we are today with vaults today we feature a tight set of Blue Chip protocols and we're quickly expanding our list aiming to add about one or two or maybe even three protocols per week and I can see my engineering team there in the back maybe committing them to something they're not ready for yet but we'll see um today the breakdown of what we show and I'll talk about this on the next slide as well goes into some features that I think other sites don't cover and that we think provides a unique angle for thinking about yield on these protocols so for example the way that we think about the one day 7-Day 30-day approach to yield is actually an actual historical perspective so that if you had put your money into one of these protocols 7 days ago or 30 days ago how much would you actually have today in addition to that uh we cover important things like tvl metrics and over time we'll add other data points as well that we think are important to the lending decisions maybe some things around risk or other types of factors so where we're going is trying to create really a new and the the first stop for any user who's looking to earn yeld on chain naturally I draw the comparison here to Google which is you know you know maybe a little bit uh overconfident but hey I'm throwing it out there anyway that's eventually where we aspire to get to where the way that you go to Google to search for anything you come to us to search for onchain yields more than anything what we would love for you at this point is feedback on the product so we have two QR codes up here on the right will take you directly to our website where you can go play around back actually just made some improvements to the mobile experience so that should be a little bit cleaner as well and on the left is a forum where we would greatly value your feedback on things that we can add to the product things that we can improve and ultimately what would make you a regular user of fults and so if I still have a few minutes I can actually walk you guys through how fast the site Works vault. FYI oops pop out of that okay so today this is what the site would look like if you landed on there as a first-time user let's say that you wanted to lend let's pick a random number $24,000 1 2 3 and let's say that you were interested in lending either D or usdc or oh I forgot die or usdt sorry kind of tough to click this way oops let's just say you're willing to lend any usdc coin and you're willing to lend for 90 days one of the toggles that we have up top here is actually the ability to filter uh between protocols that are offering token incentives versus those that are not some people for example may be more interested in just earning real yield and not having to deal with the hassle of getting comp token or something like that so we can turn that filter off additionally we can show the apy based on the average of the past 30 days this is probably the best view to look at if you're looking for something that has the most long-term sustainability so doing a quick scroll through here you can see some of the different options that are offered given that it's a pretty popular one at the moment let's take a look at the maker die savings rate and we can see that today this has a tvl of 1.3 billion die you can see that the historical apy has actually been jumping around a lot as it recently spiked up to 8% on some votes and has kind of settled back down now around five and you can also probably guess at what point they upped the interest rate to 8% so these are just some of the things that you can dig into using vaults we're looking to quickly expand all the different features and analytics that we offer and as I said please feedback is very encouraged if you want to grab me or anyone from the team afterwards as well maybe some folks from the wall faer team just raise their hand some of those guys back there folks in the front we'd love your feedback and anything that we can do to make the product more useful for you thank you very much for your time today guys